Did you know that up to 90% of all goods are transported by sea?

Date: 26 Aug 2024

Meet the world’s secondbusiest container port.

This is Singapore. With handling capacity of more than 37 million TEU and service to over 130,000 vessels a year, it is one of the largest and busiest ports on the planet. Connected to more than 600 other ports in over 120 countries, Singapore handles roughly onefifth of global container trade.

While Singapore is unique in its region, nine of the world’s ten largest ports are located in Asia. Together they handle more than 250 million containers annually. Given that many of these ports function as transshipment hubs, their combined throughput is a logistical marvel.

Even the three largest Northwest European ports — Rotterdam, Antwerp and Hamburg — do not match Singapore’s annual container capacity when combined. Sea freight will remain the dominant mode of moving goods over long distances because it’s the most efficient and economical way to transport very large volumes. Technological innovation and a focus on sustainability will help reduce environmental impact, while new trade routes and port modernization will increase the capacity and efficiency of global trade.

In this context, it is welcome news that the EU plans to invest a record €7bn in sustainable, safe and smart transport infrastructure, including shore power. A large portion of these funds will go to modernizing both rail and maritime transport. Several European ports, including those in Croatia, will receive support to upgrade their infrastructure — enabling shoretoship power supply and the integration of renewable energy sources.

These investments are a strong sign that development and economic growth can go hand in hand with sustainability — good news for everyone who believes the future of trade can be both prosperous and greener.